Outlook Business Desk
Union government has announced a 24% salary hike for current members of Parliament as well as former MPs, with a retrospective effect from April 1 2023, on Monday. This change comes after eight years as the last revision in the salary of union lawmakers was done in 2018.
The move by the government is to bring the income of MPs in alignment with current pace of inflation, according to the ministry of parliamentary affairs notification.
The union government has carried out the revision under the Salary, Allowances and Pension of Members of Parliament Act, 1954, is linked to the Cost Inflation Index mentioned in the Income Tax Act, 1961.
After the revised hike, monthly salary of MPs will increase from Rs 1 lakh to Rs 1.24 lakh, the notification mentioned. Daily allowances of MP will increase by 25% from Rs 2,000 to Rs 2,500.
The central government under the same notification has also revised pension for former MPs by 24%. Following the change, the pension of ex MPs will increase from Rs 25,000 to Rs 31,000 per month.
Ex-members will also receive an additional pension for each year of service, from Rs 2,000 to Rs 2,500.
The revision done by the central government will not apply to certain perks received by the MPs, including daily allowance for attending Parliament, constituency allowance, free travel and government housing.